7.5% CAP Rate North Port Property
SOLD February 2021 for $1,090,000
2568 & 2574 Commerce Parkway, North Port, Florida 34289
| Building Size | 6,000 Square Feet |
| Land Size | 0.1 Acres |
| Zoning | PCDN |
| Year Built | 2007 |
NNN investment opportunity in Sarasota County with 7.5% CAP. Freestanding office condominium building located in Toledo Blade Professional Center, off of Toledo Blade Blvd. Located among other small professional and medical offices. The tenant is Progressus Therapy, LLC.
PROPERTY HIGHLIGHTS
- 5 Year Lease
- 3% annual base escalation rate
- Tenant has 2 options to renew the lease for 5 years each with 3% annual increases to base rent
- Pass-Through expenses will be capped at 4% annually
- Year 1 gross income $108,000
- Year 1 pass-through expenses $24,000
- Year 1 net operating income $84,000
- CONTACT KAYLA WEISS (941) 268-4423 FOR MORE INFORMATION
The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.